Monthly ArchivesApril 2020

TLDR:
Economic data is deteriorating fast with Q2 GDP likely down 35% and unemployment reaching 20%+.Opening up the economy is going to be tough if not combined with testing, tracking and capacity at hospitals.Corporate debt defaults are expected to surge to 10-15%.2020 S&P earnings are set to decline but analysts opinions are differing drastically. I favor a cautious approach for portfolios for the near term as markets have almost fully recovered their lows reached in March.
There are a lot of questions about what direction the market will be headed next. As it stands now, the S&P is down around 10% YTD, and the NASDAQ is flat driven by companies such as Amazon, Google, Netflix, Apple, Microsoft and several others. My conversations ...

I made a decision in December to switch from monthly updates to quarterly ones and of course it's been one of the most active quarters I've ever experienced. I truly hope everyone is safe, healthy and most importantly finding productive ways to spend the time in quarantine.
As I write this update on Saturday from my house in Austin TX, the virus continues to ravage our communities and the global economy. The Fed has embarked on an unlimited monetary stimulus while the government has passed a $2 Trillion stimulus package with likely more to come. There's a lot of pain out there in the world and while I do get a sense of camaraderie similar ...